Benchmarked.
Transparent.
Quarterly.
Measured against the S&P 500 Total Return Index (SPY). The fund was established in 2009; audited monthly performance is tracked since October 2013.
Risk & return analytics
147 mo · monthly basisComputed from monthly SMIF and S&P 500 total-return (SPY) returns since Oct 2013, excluding custodian-transition bridge months. Sharpe and Sortino assume a 0% risk-free rate; alpha, beta, and correlation are measured against the S&P 500 total-return index.
Growth of $1 since Oct 2013
SMIF returns derived from monthly custodian statements (Modified Dietz for months with external cash flows). S&P 500 benchmark is SPY adjusted close (total return, includes reinvested dividends). Custodian-transition months (Nov 2024, Mar 2025) bridged at 0% return.
Growth of $1 since 2018
| Year | SMIF | S&P 500 TR | Spread |
|---|---|---|---|
| 2024 | +22.4% | +24.2% | -1.8% |
| 2023 | +27.1% | +26.3% | +0.8% |
| 2022 | -15.8% | -18.1% | +2.3% |
| 2021 | +29.6% | +28.7% | +0.9% |
| 2020 | +19.2% | +18.4% | +0.8% |
| 2019 | +30.1% | +31.5% | -1.4% |
Data source: monthly NAV series maintained by the fund. Daily quotes on the Holdings page are Polygon.io end-of-day closes, refreshed daily after the market close.
Methodology: monthly returns are computed on a Modified Dietz basis to account for intra-month contributions and withdrawals. The benchmark is the S&P 500 Total Return (SPY, dividends reinvested).
Past performance does not guarantee future results. see the latest annual report for audited figures.